From
Lisa Norris, Human Resources Director
Title
Employee Insurance Fund Monthly Review - Lisa Norris, Human Resources Director
Presenter
Lisa Norris, Human Resources Director
Recommended Action
Review Only
Analysis
This analysis covers the experience in the Employee Insurance Fund through April 2019:
Employee Insurance Fund (Attachment 1):
The insurance fund is performing very well as we complete April 2019 with active claims reaching only $846,864 for active claims (row 30, column 8) and retirees reaching $124,.244 (row 31, column 8). Both of these are well beneath the fiscal and running 12-month averages. Revenues continue to remain consistent. With seven months of the fiscal year now under our belt, year end projections (blue column, rows 30 and 31) are projecting well beneath budget with actives projected at only $12,318,671 versus the $15.7 million budgeted and retirees projected at $2,321,480 versus the $3.2 budgeted. This continued positive trend overall creates a projected operating balance at year-end of $3,959,575 (row 39, column 14).
UHC Slides:
Page 2 of Attachments (UHC Current vs. Prior Period Summary:
UHC has provided slides reviewing January to April 2018 versus the same period in 2019. That slide indicates we are trending higher in several areas, including (2nd row) Medical and Pharmacy per member per month (PMPM), Emergency Room (ER) paid per visit and inpatient days in the hospital. However, the number of visits to the ER is down and our network discount has improved. The network discount decreased slightly. Page 3 of Attachment (UHC Large Claim Summary):
The number of claimants with claims greater than $50,000 are higher this period at 7, versus the same period in 2018 (January through April) which only reflected 6 claimants. However, we also have no claimants currently exceeding $100,000 in claims like we did this same time last year.
Page 4 of Attachment (UHC Total Claim Payments by Size):
The last slide is just interesting information on how the claims are falling in this quarter by range of cost.
Financial Consideration
The current budget is approved and no financial consideration is necessary at this time until additional claims data based on future months can be reviewed.